[This message was posted by Citadel Bank of Confidential <[email protected]> to the "Fixed Income" discussion forum at http://fixprotocol.org/discuss/6. You can reply to it on-line at http://fixprotocol.org/discuss/read/71d4d4f8 - PLEASE DO NOT REPLY BY MAIL.]
> > Hi All! > > > > Is there a convention for expressing order quantity in fixed income? > > > > Thanks in advance, > > Quantity is the principal value of the trade, i.e. if you are buying > 100,000 US treasuries with a nominal value of USD 100 each, OrderQty > (tag 38) would be 10000000 (10 million) Thanks Rob. But wouldn't it be more simple to specify quantity in terms of face value, if a treasury with a $1000 face value is trading at 98.750% of par and I want to bid for 1000 of those bonds I would specify the price as percent of par (98.750) and quantity as 1,000,000 - NOT 987,500. Why wouldn't that work better? Thanks in advance, [You can unsubscribe from this discussion group by sending a message to mailto:[email protected]] --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Financial Information eXchange" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/fix-protocol?hl=en -~----------~----~----~----~------~----~------~--~---
